Wedge Provides First Default Status Report

OTTAWA, ONTARIO, May 11 (MARKET WIRE) --
Wedge Energy International Inc. (CNSX: WEG)("Wedge" or the "Company")
provides this bi-weekly Default Status Report in accordance with National
Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP
12-203"). On April 30, 2009, Wedge announced that it was not able to file
its audited annual financial statements, management's discussion and
analysis and related certifications (collectively, the "Statements") for
the fiscal year ended December 31, 2008 within the prescribed time.

In accordance with NP 12-203, and as previously announced, the Company
applied to the Ontario Securities Commission (the "OSC") for a management
cease trade order to be imposed against certain of the Company's
executive officers (and at the discretion of the OSC, some or all of the
persons who have been directors, officers or insiders of the Company). On
May 4, 2009, the OSC issued a temporary management cease trade order
against the Chief Executive Officer and the Chief Financial Officer of
the Company. The issuance of such management cease trade order does not
affect the ability of persons to trade in their securities of the
Company, other than the Chief Executive Officer the Chief Financial
Officer. However, the OSC, in its discretion, may determine at a later
time that it would be appropriate to issue a general issuer cease trade
order affecting all of the Company's securities. if the Company fails to
satisfy the provisions of the Alternative Information Guidelines required
pursuant to NP 12-203 (the "Alternative Information Guidelines").

The Company is working with its auditors to complete the audit of the
Statements as soon as possible. Until the Statements are filed, the
Company intends to satisfy the Alternative Information Guidelines by
issuing bi-weekly Default Status Reports, each of which will be issued in
the form of a press release. If the Statements are not filed beforehand,
the Company intends to issue its next Default Status Report on May 25,
2009.

The Company reports that since its original announcement on April 30,
2009 (the "Notice"), in respect of the delay in filing the Statements,
there has not been any material changes to the information provided in
the Notice other than as described herein nor any failure by the Company
in fulfilling its stated intentions with respect to satisfying the
Alternative Information Guidelines. In addition, there has not been any
other specified default by the Company under NP 12-203, nor are any
anticipated and there is no other material information concerning the
affairs of the Company that has not been generally disclosed.

Dated at Ottawa, Ontario this 11th day of May, 2009.

"The statements in this Press Release may contain forward looking
statements that involve a number of risks and uncertainties. Actual
events or results could differ materially from the Company's expectations
and projections. The CNSX has not approved or disapproved of the
information contained in this Press Release."

For further information, please go to www.wedgeenergy.com

Contacts:
Robin Dow
1-888-834-7708
robin@dowgroup.ca

BAY STREET CONNECT:
Gus Garisto
1-416-607-6023
gus@baystreetconnect.com

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